At least 1 Pakistani company among those selected for DMCC’s ‘impact-focused’ scale-up programme
- Founders of businesses will get support in various areas including impact, strategy for scaling, business, governance, talent and doing business in the UAE
At least one Pakistani-origin company is included in a list of 15 “impact-focused” firms that align with the UN's Sustainable Development Goals, chosen by the Dubai Multi Commodities Centre (DMCC) to participate in a scale-up programme.
The programme, inaugurated at a virtual opening ceremony on Tuesday, is operated in partnership with Companies Creating Change (C3), a UAE-based social enterprise helping impact-driven entrepreneurs in the region unlock their growth potential.
Founders of the selected businesses will train with C3 in September, where they will receive support in various areas including impact, strategy for scaling, business, governance, talent and doing business in the UAE.
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This will prepare them to meet investors and potential partners from C3’s network of 4,000 experts, clients from blue-chip companies, as well as over 150 investment firms.
The aim is that the training and networking programme will provide a proven blueprint to successfully enter the UAE market, as well as make connections with local and regional investors.
The initiative was touted as “the first of its kind in the UAE” in a statement by the DMCC – a free zone consisting of some 21,000 companies – that will take place over a five-year period.
It will help businesses grow within the UAE and the region through providing exclusive discounts on their business set up costs through DMCC.
The 15 companies, a list of which was not made public, have joined DMCC’s community of over 21,000 businesses. They will have access to savings on business set-up costs through a bespoke 70% discount on licence fees and flexi-desk space for two years, in addition to offering further discounts on licence renewal from the third to the fifth year, DMCC said in a statement.
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“Originating from global markets including Colombia, the United Kingdom, South Africa, India, Pakistan and Egypt, the successful companies cover various sectors such as health tech, agri and food tech, ed tech, as well as employment and job readiness,” it added.
The initiative forms part of DMCC’s wider ESG (Environmental, Social, and Governance) strategy, representing the focus of DMCC’s commitment to dedicate 0.5% of its net profits towards social impact.
DMCC also offers up to a 30% discount on licences to any company that becomes a member of the UN Global Compact to fight climate change.
Feryal Ahmadi, Chief Operating Officer, DMCC, said, “We have a significant opportunity to enact positive environmental and social change by activating and mobilising our community.”
“It is our fundamental belief that social and environmental impact go hand in hand with economic development and the long-term growth of global trade.”
The selected companies join C3’s network of over 200 accelerated start-ups.
Medea Nocentini, founder of C3, said: “We look forward to working with the inspirational founders of these businesses who are on a mission to solve global challenges, supporting them in scaling their impact across the UAE and the wider region.”
“Our network of experts, trainers, and investors will help the founders unlock new opportunities and sustainably grow their impact-focused businesses.”